The Rupee closed flat on Monday, wedged between a broadly weaker dollar and steady hedging demand from domestic firms, while optimism over U.S.-India trade talks offered some support to market sentiment. The dollar slid against major peers amid renewed concerns over the independence of the U.S. Federal Reserve, but traders said persistent corporate demand for dollars prevented the rupee from capitalising on the move. The greenback was last down 0.4% at 98.8 against a basket of peers, while gold struck a record high of more than $4,600 an ounce, also buoyed by investor concerns over simmering geopolitical tensions around Iran. The 10-year U.S. Treasury yield was last up nearly 3 basis points at 4.198% while U.S. equity futures pointed to a weak start for Wall Street. India will also be invited to join Pax Silica next month, Sergio Gor said, referring to a U.S.-led initiative to build a silicon supply chain from critical minerals to semiconductors and AI. The failure to reach a deal with the U.S. yet has been a persistent drag on the rupee and has also weighed down foreign portfolio inflows into Indian assets. Foreign investors have net sold over $1 billion of local stocks in January so far, adding to the near $19 billion of outflow last year. The dollar fell on Monday after the U.S. Department of Justice ?threatened to indict Federal Reserve Chair Jerome Powell over comments to Congress about a building renovation project, raising concerns about the ?independence of the U.S. central bank and the long-term outlook for the currency. The dollar index , which ?measures the greenback against a basket of currencies including the yen and the euro, fell 0.4% to 98.84, with the euro up 0.33% at $1.1675. The Swiss franc was among the best performers on Monday, with the dollar weakening 0.49% against the currency to 0.797. The greenback has been supported this year by a safe-haven bid on rising geopolitical concerns after ?the U.S. took Venezuelan leader Nicolas Maduro into custody and as Trump expresses his desire for the U.S. to acquire Greenland. The dollar was boosted on Friday after a solid U.S job report for December further reinforced expectations that the Fed will hold rates steady at its January 27-28 policy meeting. Fed funds futures pricing shows that the next rate cut is now seen as unlikely until June. The next major U.S. economic focus will be the release on Tuesday of the consumer price inflation report for December.Against the Japanese yen , the dollar strengthened 0.06% to 157.97. It earlier reached a one-year high of 158.19. Oil prices held near a five-week high on Monday as concerns Iran may reduce exports during a crackdown on the biggest anti-government demonstration in years offset expectations supplies could rise from Venezuela, another OPEC member under sanctions. Brent futures rose 8 cents, or 0.1% to $63.42 a barrel, while U.S. West Texas Intermediate crude fell 13 cents, or 0.2%, to $58.99.......